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WFC

Wells Fargo

$55.21

-0.45 (-0.81%)

, BAC

Bank of America

$25.45

-0.38 (-1.47%)

20:25
10/12/17
10/12
20:25
10/12/17
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Wells Fargo (WFC), consensus $1.03... Bank of America (BAC), consensus 45c... PNC Financial (PNC), consensus $2.13... First Republic (FRC), consensus $1.15.

WFC

Wells Fargo

$55.21

-0.45 (-0.81%)

BAC

Bank of America

$25.45

-0.38 (-1.47%)

PNC

PNC Financial

$135.27

-1.22 (-0.89%)

FRC

First Republic

$102.17

-1.24 (-1.20%)

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    Jan

WFC Wells Fargo
$55.21

-0.45 (-0.81%)

10/06/17
VERF
10/06/17
INITIATION
VERF
Sell
Wells Fargo initiated with a Sell at Vertical Group
Vertical Group analyst Richard Bove initiated earlier shares of Wells Fargo with a Sell rating and $49.67 price target.
09/28/17
NOMU
09/28/17
DOWNGRADE
NOMU
Neutral
U.S. Bancorp downgraded to Neutral from Buy at Nomura Instinet
Nomura Instinet analyst Bill Carcache downgraded U.S. Bancorp (USB) to Neutral saying he sees downside risk to net interest income and provision expectations. Consensus expects U.S. Bancorp's loan growth to accelerate to 6% by 2018, which is too optimistic given the bank's recent comments, the analyst contends. He lowered his price target for the shares to $55 from $57. Carcache remains bullish on Wells Fargo (WFC) and raised his price target for the shares to $65 from $64.
09/26/17
DBAB
09/26/17
DOWNGRADE
Target $136
DBAB
Hold
PNC Financial downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Matt O'Connor downgraded PNC Financial (PNC) to Hold as he seeks to lessen exposure to traditional banks. The analyst sees net interest income growth slowing and credit costs inching up as the Fed raises short rates and the yield curve flattens. He believes a number of positives are priced into PNC shares. O'Connor upped his price target for the stock to $136 from $130. The analyst continues to prefer banks with a "turnaround angle," like Goldman Sachs (GS) and Wells Fargo (WFC), and remains positive on capital markets businesses like Morgan Stanley (MS). O'Connor this morning also downgraded JPMorgan (JPM) to Hold.
09/15/17
UBSW
09/15/17
NO CHANGE
Target $56
UBSW
Neutral
Wells Fargo revenue headwinds can persist, says UBS
UBS analyst Saul Martinez said proprietary analysis suggests Wells Fargo's difficult backdrop for client acquisition remains and the recent disclosures have kept the company in the spotlight for the wrong reasons. He believes earnings growth depends on efficiency improvement and more aggressive stock buybacks. Martinez maintained his Neutral rating and lowered his price target to $56 from $59 on Wells Fargo shares.
BAC Bank of America
$25.45

-0.38 (-1.47%)

06/09/17
RBCM
06/09/17
NO CHANGE
RBCM
House financial reform bill unlikely to advance in Senate, says RBC Capital
RBC Capital analyst Gerard Cassidy says that the financial regulation reform bill passed yesterday by the House would help the banking sector but probably won;t be passed by the Senate. Large publicly traded banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
07/11/17
BARD
07/11/17
NO CHANGE
BARD
Big bank set-up not great, would sell into extended rally, says Baird
Baird analyst David George does not see a great set-up for money-center banks heading into Q2 earnings. He said the trade looks crowded and he would be a seller into an extended rally. George said the risk/reward is less attractive following the sector's most recent rally as economic growth remains muted and the pace of NIM expansion may slow. George believes the biggest potential catalyst would be a gradual steepening of the yield curve and pick-up on loan growth.
07/18/17
NOMU
07/18/17
NO CHANGE
Target $27
NOMU
Buy
Bank of America NII softness could weight on shares, says Nomura Instinet
Nomura Instinet analyst Steven Chubak said Bank of America reported a modest core beat but the NII miss and elevated bar for Q3 could result in modest share underperformance. The analyst remains encouraged by fee income resiliency, favorable credit trends, strong capital build, and compelling risk/reward, and reiterates his Buy rating and $27 price target.
08/09/17
WELS
08/09/17
INITIATION
WELS
Outperform
Bank of America resumed with an Outperform at Wells Fargo
Wells Fargo analyst Mike Mayo resumed coverage of Bank of America with an Outperform rating and $30 price target.
PNC PNC Financial
$135.27

-1.22 (-0.89%)

10/05/17
SPHN
10/05/17
DOWNGRADE
SPHN
Equal Weight
PNC Financial downgraded to Equal Weight from Overweight at Stephens
10/05/17
10/05/17
DOWNGRADE

Equal Weight
PNC Financial downgraded to Equal Weight on valuation at Stephens
As previously reported, Stephens analyst Terry McEvoy downgraded PNC Financial to Equal Weight from Overweight, as he views the shares as fairly valued following the stock's outperformance relative to Super Regional bank peers year-to-date.
10/05/17
10/05/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Mallinckrodt (MNK) downgraded to Hold from Buy at Canaccord with analyst Dewey Steadman saying he sees a lack of near-term catalysts and believes the story will take time to evolve. 2. GrubHub (GRUB) downgraded to Neutral from Buy at Citi with analyst Mark May citing valuation with the shares up 44% year-to-date. 3. Coach (COH) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying the stock is likely to enter a "period of digestion" as the company integrates Kate Spade and as investors "grapple with" its new reporting structure. 4. PNC Financial (PNC) downgraded to Equal Weight from Overweight at Stephens with analyst Terry McEvoy saying he views the shares as fairly valued following the stock's outperformance relative to Super Regional bank peers year-to-date. 5. Six Flags (SIX) downgraded to Long-Term Buy from Buy at Hilliard Lyons with analyst Jeffrey Thomison citing recent share appreciation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/09/17
FBCO
10/09/17
NO CHANGE
Target $135
FBCO
Neutral
PNC Financial price target raised to $135 from $126 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke raised her price target for PNC Financial to $135 from $126 on valuation. The analyst reiterates a Neutral rating on the shares.
FRC First Republic
$102.17

-1.24 (-1.20%)

10/10/17
LEHM
10/10/17
DOWNGRADE
Target $104
LEHM
Equal Weight
First Republic downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Matthew Keating downgraded First Republic Bank to Equal Weight saying the shares "will be challenged to outperform" until the consensus better reflects the company's likely efficiency ratio results. Recent management comments suggest First Republic plans to operate at a 62% level over the next year compared to the 59%-60% consensus outlook. Keating lowered his price target for the shares to $104 from $108.
09/29/17
JEFF
09/29/17
NO CHANGE
Target $120
JEFF
Buy
First Republic price target raised to $120 from $109 at Jefferies
Jefferies analyst Casey Haire raised his price target for First Republic Bank to $120 saying the company is turning the rise in student debt into an opportunity. The launch of All-in-One and the recently acquired Gradifi are "promising client acquisition tools" for First Republic's flagship mortgage product, Haire tells investors in a research note. He believes the initiatives should deliver $45B of mortgage production between 2021-2026, which equates to 80% of total loans today. The analyst has a Buy rating on First Republic.
06/28/17
WEDB
06/28/17
INITIATION
WEDB
Outperform
First Republic initiated with an Outperform at Wedbush
Wedbush analyst David J. Chiaverini started coverage of First Republic with a $121 price target and an Outperform rating. The analyst calls the bank's business model the "gold standard" in the sector because of its success in obtaining wealthy customers. He says that the bank's loans and deposits have grown at one of the fastest rates in the country among larger institutions.
01/09/17
WELS
01/09/17
DOWNGRADE
WELS
Market Perform
First Republic downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Jared Shaw downgraded First Republic to Market Perform citing the stock's "high" valuation. The analyst raised his price target range for the shares to $89-$91 from $84-$86.

TODAY'S FREE FLY STORIES

JPM

JPMorgan

$97.99

0.37 (0.38%)

18:12
10/18/17
10/18
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18:12
Hot Stocks
SEC names JPMorgan exec Redfearn Director of Division of Trading and Markets »

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    Feb

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VZ

Verizon

$48.65

0.25 (0.52%)

18:10
10/18/17
10/18
18:10
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18:10
Periodicals
Verizon targets spring start of delayed online TV service, Bloomberg says »

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  • 19

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    Nov

STLD

Steel Dynamics

$36.44

0.27 (0.75%)

18:04
10/18/17
10/18
18:04
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18:04
Hot Stocks
Steel Dynamics CEO optimistic conditions in place to benefit FY18 consumption »

CEO Mark Millet said:…

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  • 19

    Oct

CE

Celanese

$104.03

-0.24 (-0.23%)

18:03
10/18/17
10/18
18:03
10/18/17
18:03
Earnings
Celanese increases price for acetyls and engineered materials products »

Celanese will increase…

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STLD

Steel Dynamics

$36.44

0.27 (0.75%)

18:01
10/18/17
10/18
18:01
10/18/17
18:01
Earnings
Steel Dynamics reports Q3 ex-items EPS 66c, consensus 66c »

Reports Q3 revenue $2.4B,…

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03/08/13
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03/06/13
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03/06/13
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  • 19

    Oct

OPTT

Ocean Power

$2.00

0.56 (38.89%)

17:59
10/18/17
10/18
17:59
10/18/17
17:59
Syndicate
Ocean Power files to sell common stock in 'best efforts' offering »

No amount was provided.…

03/08/13
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03/06/13
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03/06/13
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  • 20

    Oct

TOSBF

Toshiba, also use TOSYY

$3.02

-0.03 (-0.98%)

, TOSYY

Toshiba, also use TOSBF

$18.20

-0.11 (-0.60%)

17:58
10/18/17
10/18
17:58
10/18/17
17:58
Periodicals
Japan regulators probing Toshiba reporting practices for FY16/17, Nikkei says »

Japan's Securities…

TOSBF

Toshiba, also use TOSYY

$3.02

-0.03 (-0.98%)

TOSYY

Toshiba, also use TOSBF

$18.20

-0.11 (-0.60%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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PNW

Pinnacle West

$87.34

-0.42 (-0.48%)

17:53
10/18/17
10/18
17:53
10/18/17
17:53
Hot Stocks
Pinnacle West raises quarterly divided 6.1% to 69.5c per share »

Pinnacle West…

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03/06/13
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03/06/13
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  • 03

    Nov

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    Nov

GILD

Gilead

$80.01

-0.23 (-0.29%)

17:46
10/18/17
10/18
17:46
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17:46
Hot Stocks
FDA grants regulatory approval to Kite's Yescarta »

Kite, a Gilead company,…

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03/06/13
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03/06/13
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  • 20

    Oct

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    Feb

POT

Potash

$19.24

0.08 (0.42%)

, AGU

Agrium

$107.73

0.55 (0.51%)

17:37
10/18/17
10/18
17:37
10/18/17
17:37
Hot Stocks
Potash, Agrium: India approves proposed merger of equals transaction »

Potash Corporation of…

POT

Potash

$19.24

0.08 (0.42%)

AGU

Agrium

$107.73

0.55 (0.51%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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VMI

Valmont

$160.85

1.9 (1.20%)

17:36
10/18/17
10/18
17:36
10/18/17
17:36
Earnings
Valmont lowers FY17 adjusted EPS view to $6.90-$7.04 from $7.06, consensus $7.09 »

Annual guidance was…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 19

    Oct

NVO

Novo Nordisk

$50.13

0.82 (1.66%)

17:36
10/18/17
10/18
17:36
10/18/17
17:36
Hot Stocks
Novo Nordisk receives positive 16-0 vote from FDA Advisory Committe »

Novo Nordisk announced…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 18

    Oct

CHFS

CHF Solutions

$8.30

-0.69 (-7.68%)

17:35
10/18/17
10/18
17:35
10/18/17
17:35
Syndicate
Breaking Syndicate news story on CHF Solutions »

CHF Solutions files to…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 06

    Nov

VTGN

VistaGen Therapeutics

$1.31

0.04 (3.15%)

17:33
10/18/17
10/18
17:33
10/18/17
17:33
Syndicate
Breaking Syndicate news story on VistaGen Therapeutics »

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LLNW

Limelight Networks

$4.48

0.12 (2.75%)

, URI

United Rentals

$144.32

0.98 (0.68%)

17:32
10/18/17
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Hot Stocks
On The Fly: After Hours Movers »

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LLNW

Limelight Networks

$4.48

0.12 (2.75%)

URI

United Rentals

$144.32

0.98 (0.68%)

KMI

Kinder Morgan

$18.58

-0.1 (-0.54%)

ADBE

Adobe

$153.00

2.62 (1.74%)

CNAT

Conatus

$5.15

0.05 (0.98%)

EBAY

eBay

$37.97

0.48 (1.28%)

HXL

Hexcel

$58.94

0.39 (0.67%)

CCI

Crown Castle

$100.96

-0.42 (-0.41%)

ESTE

Earthstone Energy

$10.54

-0.15 (-1.40%)

PEGI

Pattern Energy

RXDX

Ignyta

$16.25

1.9 (13.24%)

HCA

HCA Healthcare

$77.45

0.63 (0.82%)

KLAC

KLA-Tencor

$108.09

0.08 (0.07%)

03/08/13
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03/06/13
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03/06/13
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VMI

Valmont

$160.85

1.9 (1.20%)

17:31
10/18/17
10/18
17:31
10/18/17
17:31
Earnings
Valmont reports Q3 adjusted EPS $1.56, consensus $1.61 »

Reports Q3 revenue…

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  • 19

    Oct

AGEN

Agenus

$4.71

0.04 (0.86%)

17:31
10/18/17
10/18
17:31
10/18/17
17:31
Syndicate
Breaking Syndicate news story on Agenus »

Agenus files $250M mixed…

03/08/13
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  • 24

    Oct

PEGI

Pattern Energy

17:31
10/18/17
10/18
17:31
10/18/17
17:31
Hot Stocks
Pattern Energy sees Q3 operating loss greater than Q316 »

On October 18, Pattern…

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  • 19

    Oct

GE

General Electric

$23.12

-0.07 (-0.30%)

17:25
10/18/17
10/18
17:25
10/18/17
17:25
Periodicals
General Electric CEO cutting expenses, employees, WSJ reports »

General Electric's…

03/08/13
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03/08/13
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  • 20

    Oct

UNB

Union Bankshares

$47.10

-0.8 (-1.67%)

17:20
10/18/17
10/18
17:20
10/18/17
17:20
Hot Stocks
Union Bankshares sees Q418 charge of $3.2M on plan termination »

On October 18, the board…

03/08/13
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03/06/13
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OIS

Oil States

$23.75

-0.2 (-0.84%)

17:19
10/18/17
10/18
17:19
10/18/17
17:19
Earnings
Oil States lowers Q3 revenue view to $164M from $165M-$185M, consensus $177.77M »

Oil States anticipates…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 27

    Oct

AXP

American Express

$92.08

0.39 (0.43%)

17:18
10/18/17
10/18
17:18
10/18/17
17:18
Hot Stocks
American Express says on track to cut $1B in costs by end of the year »

Says on track to cut $1B…

03/08/13
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03/06/13
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  • 18

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  • 08

    Nov

OIS

Oil States

$23.75

-0.2 (-0.84%)

17:16
10/18/17
10/18
17:16
10/18/17
17:16
Hot Stocks
Breaking Hot Stocks news story on Oil States »

Oil States lowers Q3…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 27

    Oct

AXP

American Express

$92.08

0.39 (0.43%)

17:08
10/18/17
10/18
17:08
10/18/17
17:08
Hot Stocks
American Express says 'right time' for leadership transition »

Comments taken from Q3…

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  • 18

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  • 08

    Nov

APRN

Blue Apron

$5.30

-0.08 (-1.49%)

17:06
10/18/17
10/18
17:06
10/18/17
17:06
Hot Stocks
Blue Apron to cut roughly 6% of total workforce, inclur roughly $3.5M in expense »

Blue Apron said in a…

03/08/13
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03/06/13
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03/06/13
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  • 02

    Nov

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